The 2026 West Virginia Legislative Session delivered several important wins for West Virginia’s banks and their customers. The West Virginia Bankers Association’s agenda focused primarily on protecting our banks’ most vulnerable customers. We also participated in the passage of several bills focused on economic development with implications for banks. Most importantly, no bill passed this session adverse to the banking industry.
Consumer Protection
On the consumer protection front, we secured passage of Senate Bill 617. This bill allows West Virginia depository institutions to make certain disclosures to designated third parties and investigative agencies in the event that an elderly or disabled customer may be facing financial exploitation.
SB 617 allows banks, in the event of a potentially exploitative transaction, to make disclosures to 1) a third-party contact designated on the account and 2) either the West Virginia Attorney General or the West Virginia Department of Human Services Bureau for Social Services. It also provides banks with good-faith immunity for acting under its provisions, ensuring they can protect their customers without fear of frivolous litigation.
SB 617 is an important step in allowing our institutions to protect their customers. After similar legislation failed to advance in 2025 due to adverse changes to the immunities section, we were able to work with a broad array of stakeholders to negotiate acceptable language. We are thankful to those who worked with us to pass this key legislation.
HB 5353 pertains to the regulation of virtual currency kiosks (or crypto kiosks). These kiosks, of which West Virginia had the most per capita in the United States, are a conduit for financial exploitation and other illicit activities. Prior to the passage of this law, they were essentially acting as unlicensed money transmitters, with no licensure requirements, limits on transaction amounts or any consumer protection requirements.
HB 5353 sets a transaction limit of $1,000 for new customers and $10,000 for returning customers (users registered for over 10 days). It also requires that these machines must be registered with the West Virginia Division of Financial Institutions, must offer enhanced customer service and consumer protection procedures, and must display fraud warnings to customers. This legislation limits the harm that these machines can cause to the elderly and other vulnerable populations.
Other Legislation
Beyond the association’s direct agenda, we participated in and supported the passage of HB 4009, the Portable Benefit Account Act. It authorizes Portable Benefit Accounts, which allow contract workers to maintain accounts holding their 401 (k), Roth IRA; and Life, Health, and Disability Insurance — to which a contracting entity may contribute without triggering employer obligations. Banks may offer these accounts, but are not required to do so; likewise for a bank’s wealth management arm.
Lastly, no legislation adverse to the banking sector was passed during the 2026 Session. Though such legislation, such as debanking and ESG mandates, was proposed, none passed. Through the work of both the association and our broader coalition, we were able to work with legislators to defeat some adverse legislation, while others failed to advance due to overall legislative conditions.
The 2026 Legislative Session proved productive for the banking sector. While we were disappointed that several jobs-focused legislative items — like the TEAM West Virginia Act, which would have created a private, nonprofit economic development corporation to encourage job growth — failed to pass, we are hopeful for such legislation in the coming years. We were able to strengthen the protections afforded to our customers while ensuring adverse legislation does not weaken West Virginia’s banking environment. Our successes would not be possible without the input, support and participation of our bankers; for this, we are thankful. We look forward to continuing our track record of delivering successful legislative wins for West Virginia’s banks.
